How to Avoid "We Buy Any House" Scams?

Selling a house can be frustrating and difficult. It can be frustrating and difficult to sell a home.

What is a "we buy any house" company?

Many UK companies offer services such as "we buy any house" in the UK. Most of these companies will buy your home for cash and guarantee a fast sale. These companies will often offer cash offers of no more than 85% or less of the true value of your property.

These 'We Buy Houses' companies are legit?

Many UK-based companies that we can buy any home are legitimate. There will also be many fraudsters and scammers alongside the genuine operators.

Any legitimate "we buy homes" company should follow this standard procedure:

• Cash will be offered to your home once you contact them
• The company will handle all transactional administration for you if you accept the offer

• Your employer should reimburse you for legal fees.

• A completion date will be set, and should be within one month.
• The sale will close on the date set.

Scams involving "we buy any house"

Scammers who claim to "we buy any home" use a variety of methods to deceive unsuspecting victims.

Avoid these scams:

Scammer of lead generation

Many companies that claim they can buy any house don't actually own any. Instead of selling your data directly to them, their landing pages or websites are used to generate leads which are then sold to other parties.

Inaccurate Valuations

Companies that offer to buy houses make money by using the values of their properties to decrease the property's value, making them less willing to pay.

Hidden fees

"We buy any house" is a scam in which the scammer adds hidden fees to your property sale. These charges are often discovered at the end of the transaction and it is too late to make any changes. Most legitimate businesses don't require upfront fees and will pay all legal expenses.

Last-minute price cuts

Gazundering can occur in any real estate transaction. However, scam 'we purchase any house' companies often use this trick. The scam company will reduce its offer for your home by several thousand pounds upon completion. This is because they know you won't resist the change, as the offer was modified at the last minute. A genuine "we buy any house" company will provide a written offer at the start of the process.

Option agreements and lock-in agreements

Fraudulent companies advertising that they will buy any house will try to get you to sign an agreement. If you don't like the terms, you won't be able sell the property. A third party or assisted sales, as well as lease options, are allowed by the company. These may not guarantee a sale, and could result in additional fees.

These are some tips to help you avoid the 'we buy homes' scam

There are several ways to avoid falling for the 'we buy any home' scam.

Do not do business with any company that:

• Requests money in advance
• There are fees
• Offers an option contract or attempts to lock you in
• Provides 95% to 100% of the property's value

Also, you should:

• Conduct an investigation of the company
• Companies House is an excellent source for finding out if the company that offers to buy your property has a track record of profitability.
• Their registration number should be visible on their website.
• Find professional accreditations
• Only real 'we purchase any house' companies are eligible to join the National Association of Property Buyers and the Property Ombudsman. These accreditations should be displayed on their websites.
• Find the most recent, independent reviews
• You should not only look at the testimonials on the websites of many "we buy any house" companies but also verify the online reviews.
• Seek out reviews on websites like Google and Reviews.co.uk to verify that they are accurate and current.
• A company with very few reviews or none, or if they aren't up-to-date, should be flagged.

Falsified content can also be indicated by multiple reviews within a short time span.

Did You received a time and offer that seemed too good to pass up?

• Follow your gut instinct to avoid scams that claim "we buy any house".
• It is a general rule of thumb that anything that sounds too good to be true is probably true.
• Avoid doing business with companies that offer you a full market value or promise to close the transaction within a short time.

Ask for a receipt to receive the funds and any information about fees

Many companies that offer 'we purchase any house' will pay cash for your property.

• It is important to ensure that funds are available.
• Once they have made an offer, ask for proof that the company has sufficient funds to purchase your house.

Ask about their fees. Most legitimate businesses won't charge you any fees, and will cover your legal expenses.

Ask for solicitor details right away

Ask for the contact details of the solicitor to verify that you are dealing with a legitimate company.

You should not accept a refusal from the company or be unable to provide details about their conveyance.

Selling your home through a local agent

• To avoid being sold by a scammer who claims to buy all houses, it is best to sell your house through an estate agent.
• This will lower your chance of being scammed and help you sell your property at a higher price than its actual market value.
• You may also consider selling at an auction. Ask your agent.
• An engaged and proactive estate agent can help you sell your house quickly so that you can move on to the next stage of the property ladder with peace of mind.